KLR Group Downgrades Synergy Resources Corp (SYRG) to Accumulate
Synergy Resources Corp (NASDAQ:SYRG) was downgraded by KLR Group from a “buy” rating to an “accumulate” rating in a note issued to investors on Monday. They presently have a $10.00 price target on the stock. KLR Group’s price target indicates a potential upside of 24.69% from the stock’s current price.
A number of other equities research analysts also recently commented on the company. Imperial Capital downgraded Synergy Resources Corp from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $7.50 to $6.50 in a research report on Tuesday, August 2nd. Citigroup Inc. reduced their target price on Synergy Resources Corp from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Wells Fargo & Co. started coverage on Synergy Resources Corp in a research report on Tuesday, October 25th. They issued an “outperform” rating on the stock. Royal Bank Of Canada started coverage on Synergy Resources Corp in a research report on Tuesday, September 27th. They issued an “outperform” rating and a $9.00 target price on the stock. Finally, KeyCorp lifted their target price on Synergy Resources Corp from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $9.24.
Synergy Resources Corp (NASDAQ:SYRG) opened at 8.02 on Monday. The stock’s 50 day moving average price is $7.60 and its 200-day moving average price is $6.82. Synergy Resources Corp has a 52-week low of $5.01 and a 52-week high of $11.69. The company’s market cap is $1.61 billion.
Synergy Resources Corp (NASDAQ:SYRG) last posted its earnings results on Thursday, November 3rd. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. The business earned $26.20 million during the quarter, compared to analysts’ expectations of $26.70 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Synergy Resources Corp’s revenue for the quarter was down 21.6% compared to the same quarter last year. On average, equities analysts predict that Synergy Resources Corp will post ($0.05) earnings per share for the current fiscal year.
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In other Synergy Resources Corp news, CFO James P. Henderson acquired 50,000 shares of the stock in a transaction dated Tuesday, September 20th. The stock was acquired at an average cost of $5.95 per share, with a total value of $297,500.00. Following the transaction, the chief financial officer now owns 179,605 shares in the company, valued at approximately $1,068,649.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel E. Kelly acquired 15,000 shares of the stock in a transaction dated Wednesday, October 5th. The shares were acquired at an average cost of $6.49 per share, with a total value of $97,350.00. Following the completion of the transaction, the director now owns 31,272 shares in the company, valued at approximately $202,955.28. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement Systems ET AL acquired a new position in Synergy Resources Corp during the second quarter valued at about $119,000. Societe Generale acquired a new position in Synergy Resources Corp during the second quarter valued at about $121,000. Pittenger & Anderson Inc. boosted its position in Synergy Resources Corp by 27.6% in the second quarter. Pittenger & Anderson Inc. now owns 18,500 shares of the company’s stock valued at $123,000 after buying an additional 4,000 shares in the last quarter. Geduld E E acquired a new position in Synergy Resources Corp during the third quarter valued at about $139,000. Finally, CSS LLC IL boosted its position in Synergy Resources Corp by 50.0% in the third quarter. CSS LLC IL now owns 21,000 shares of the company’s stock valued at $146,000 after buying an additional 7,000 shares in the last quarter.
Synergy Resources Corp Company Profile
Synergy Resources Corporation is a shell company. The Company is an oil and natural gas company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in and around the Denver-Julesburg Basin (D-J Basin) of Colorado. The D-J Basin has hydrocarbon-bearing deposits in several formations, including the Niobrara, Codell, Greenhorn, Shannon, Sussex, J-Sand and D-Sand.
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